The human capital - foundation national system of innovation in the innovative economy

Abstract: The progress in developing countries contributed to the formation of the new economy, knowledge economy, innovation, new technologies and business venture. The human capital is the foundation of this new economy.

Key words: new economy, knowledge economy, innovation, innovation economics, human capital

National System of Innovation

1. Introduction.

In recent years a general mood was created about the role of human capital in economic growth and the formation of "new economy" as a necessary step in economic evolution of society. The New economy is based on knowledge and ideas, key factors to the creation of high standards of living where ideas and innovative technologies are essential.

2. Theoretical background

In the professional literature, the "new economy" is perceived as a complex phenomenon and interpreted differently by economists. There are used different names: the "new economy" post-industrial society, postmodern society, information, knowledge, "net-economy", "digital economy", "virtual economy", but all have contemporary features of society development. In the post-industrial society are found the information society, knowledge and science society [1]. All these are based on innovative ideas of human capital, resulting in innovative nature of post-industrial society and its role in building them. In our opinion the next stage of post-industrial society is the innovative society, determinant of the innovation economy, as necessary step in the evolution of society. Synthesizing the opinions of foreig and native authors about the postindustrial society, the author establishes the correlation between the expressions of the new society (Figure1).

Fig. 1 Postindustrial society phrases

Postindustrial Society

Society

Postindustrial Economy

INFORMATIONAL SOCIETY

KNOWLEDGE SOCIETY

SCIENCE SOCIETY

SOCIETY

INNOVATION SOCIETY

Informational economy

Knowledge Economy

Science economy

Innovation economy

3. Problem solution

3.1. Hypotheses of the research consist in the deepening and developing the concept of human capital and efficiency in the formation of innovative economy. The achieving of the goal led to formulate the following objectives: -the argumentation of the importance of human capital as a prerequisite for the development of innovative economy and its multiplier effects;

-the shaping of economic policies and increase efficiency of human capital and its creative potential;

-the development on the strength of recommendations on investigations under the National System of Innovation training effectiveness;

3.2. Means and tools of research

The methodological basis of research knowledge is dialectical method, device and philosophical categorical general systems theory, comparative analysis method.

3.3. Research results and interpretation

Innovative economy is the economy of knowledge-based society, innovation, the positive acceptance of new ideas, systems and technologies and their implementation in various spheres of economic activity. This is a type of economy based on innovation flow, the constant technological perfection, the production and export of high tech products with high added value and export of technologies [2]. Basic notions of innovative economy are: innovations, innovative activity and innovative infrastructure [3]. This type of economy is based on human capital as a measure of individual skills and qualities made from investments which are actually used, leading to increased productivity and income. These qualities of human being have opened new horizons in individual perception of economic phenomena, based on innovative ideas that give rise to innovative economy. The particularities of human capital in the innovative economy have multiplicative value that consist in the fact that, after the process of production, newly created value in the input exceeds its output. As a result, the author proposes the following definition of human capital in innovative economy representing all socio-economic relations on the formation and accumulation of knowledge with innovation multiplicative effect. Individual human capital is crucial for innovation activity and the representation of a nation's human capital can be an expression of relevant skills for innovation. According to these skills we can say that the innovative component of human capital represents all intellectual capacities of the worker to generate new knowledge and achievement in its structure with the physical capabilities and those intellectual of the worker. Its structure includes the following elements: education, training, reproductive capacity and renewal of knowledge, skills and personality types, health and genetic background, motivations, migration ability. Skills of innovation is expressed through the annual growth rate of GDP per capita, share of GDP spending in this area, number of patents, number of staff involved in research, development and innovation, all of a link between them and economical increase.